Azernews.Az

Prices remained stable in many countries of the world, but a contrary tendency was observed in Azerbaijan in January, local researchers have found.
Gubad Ibadoglu, director of the local Economic Research Center working on alternative methods of calculating inflation under a USAID-funded project, said there were changes in price levels on certain groups of commodities.
"Unlike January 2007, the hikes mostly affected prices for food. The highest increases were observed in those for meat as well as milk and dairy products," Ibadoglu told a news conference Thursday.
The researcher linked the development with the drop in agricultural production as well as the rises in prices for feed used in animal husbandry last year.
Ibadoglu downplayed the government's statements that rising inflation was related to imports.
"In the mentioned period, high inflation was chiefly registered on domestically-produced goods. Among imported commodities, only the prices for fruit juices increased, which is due to the efforts aimed at providing favorable conditions for the sale of domestic goods," Ibadoglu concluded.
Inflation made up 16% in 2007, according to official figures, but informal sources put the indicator at 30%.
The International Monetary Fund has predicted that inflation will make up 17% in Azerbaijan in 2008.